this statement. In no country in the world where free coinage
exists is sixteen ounces of silver equal to one ounce of gold.
France and the United States maintain the parity between the two
by carefully limiting the coinage and receiving and redeeming silver
coins as the equivalent of gold. But wherever free coinage exists
that is impossible. With free coinage the market value of the
bullion fixes the value of the dollar. The Mexican dollar contains
more silver than the American dollar, and yet the Mexican dollar
is worth about 78 cents, because in Mexico coinage is free. And
the American dollar is worth 100 cents because in the United States
coinage is limited. So in all free coinage countries where silver
alone is coined it is worth its market value as bullion. In all
countries where gold circulates the coinage of silver is limited,
but is used as money in even greater amounts than in countries
where coinage is free. This is the case in France and the United
States. The free coinage of silver in either would stop the coinage
of gold.

* * * * *

"It is claimed that if we adopt the silver standard we will get
more money for our labor and productions. This does not follow,
but, even if it be true, the purchasing power of our money will be
diminished. All experience proves that labor and the productions
of the farm are the last to advance in price.

* * * * *

"Some say that we want more money to transact the business of the
country. Do we get more money be demonetizing one-half of all we
have?--for the gold now in circulation is more than one-half of
the coin in circulation."

In closing this speech I said:

"I appeal to the conservative men of Ohio of both parties to repeat
now the service they rendered the people of the United States in
1875, by the election of Governor Hayes, in checking the wave of
inflation that then threatened the country. You can render even
a greater service now in the election of Governor McKinley, in
defeating the free coinage of silver, and strengthening the hands
of President Harrison and the Republican Senate in maintaining
American industries, a full dollar for all labor and productions,
the untarnished credit of the American people, and the advancing
growth and prosperity of our great republic. I have endeavored in
a feeble way to promote these objects of national policy, and now
that I am growing old, I have no other wish or ambition than to
inspire the young men